Kraken's OTC desk now accessible via ICE Chat for institutional crypto trading
The crypto exchange has connected its over-the-counter trading desk to ICE's messaging platform, providing institutional clients among 120,000 market participants with direct cryptocurrency liquidity access.
Cryptocurrency exchange Kraken, based in the United States, has connected its over-the-counter trading desk to ICE Chat from Intercontinental Exchange, providing institutional market participants with direct access to Kraken's cryptocurrency liquidity via a messaging platform that is extensively utilized throughout international financial markets.
More than 120,000 market participants are connected through ICE Chat, encompassing banks, brokerage firms, and trading desks that leverage the platform for executing deals and negotiating in real time. Through this integration, these clients can now engage directly with Kraken's over-the-counter desk without leaving their established trading workflows.
According to Kraken, the company represents the first digital currency platform to receive approval for connecting to ICE Chat, positioning its cryptocurrency liquidity alongside conventional asset classes within well-established institutional communication infrastructure.
Both organizations indicated their intention to broaden the integration in the future, which mirrors wider initiatives to incorporate digital asset trading into conventional financial market systems.
Large block trades in cryptocurrency spot markets and options are facilitated through Kraken's over-the-counter desk. Intercontinental Exchange, the operator of ICE Chat and owner of the New York Stock Exchange, delivers data services, clearing operations, and technology solutions to financial markets worldwide.
This announcement comes after Kraken made a commitment on Monday to provide support for US President Donald Trump's proposed "Trump Accounts," which is a savings program designed for Americans who are under 18 years of age.
ICE expands deeper into crypto and tokenized markets
Over the course of the past year, Intercontinental Exchange has increased its participation in digital asset markets, moving beyond conventional exchange infrastructure to encompass blockchain data services, prediction markets, and cryptocurrency payment solutions.
Last August, ICE formed a partnership with Chainlink, a blockchain oracle service provider, to deliver foreign exchange and precious metals data onchain. This collaboration incorporates ICE's Consolidated Feed, which compiles pricing information from over 300 international exchanges and marketplaces, into Chainlink's Data Streams infrastructure.
During October, ICE made a $2 billion investment in Polymarket, a prediction market platform based on cryptocurrency, resulting in a reported post-money valuation of $9 billion for the company. The following December saw ICE enter into discussions regarding potential backing for MoonPay, a cryptocurrency payments firm, as part of its most recent funding round, which is reportedly targeting a $5 billion valuation, although the specific amount of ICE's prospective investment remains undisclosed.
Recent activity in the cryptocurrency sector has also been observed from both Nasdaq and the NYSE, with particular focus on the tokenization of equity securities.
During September, Nasdaq submitted a filing with the US Securities and Exchange Commission requesting authorization to list tokenized stocks via a proposed modification to existing rules.
The NYSE revealed plans in January for developing a round-the-clock trading platform dedicated to tokenized stocks and ETFs, which would combine the exchange's Pillar matching engine with blockchain-powered post-trade settlement infrastructure, contingent upon receiving regulatory approval.